21LADY Co., Ltd. announced that it expects to receive ¥312.287 million in funding
December 12, 2018
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21LADY Co., Ltd. (NSE:3346) announced a private placement of 1,185,000 common shares at the price of ¥263 per share for gross proceeds of ¥311,655,000 and 3,950 7th series warrants at the price of ¥160 per warrants for gross proceeds of ¥632,000 and for total proceeds of ¥312,387,000 on December 12, 2018. OKT limited liability partnership will acquire 500,000 shares and 1,500 warrants, ODC Capital limited liability partnership will acquire 350,000 shares and 1,050 warrants, KM capital partners limited liability partnership will acquire 195,000 shares, and KNK value up limited liability partnership will acquire 140,000 shares and 1,400 warrants. One warrant will be exercised into 100 shares at an exercise price of ¥263 per share. The transaction has been approved by board of directors of the company. The payment date is December 28, 2018. The approximate amount of issuance expenses are ¥12,550,000. Warrants evaluation by Plutus Consulting Co., Ltd. are ¥4,860,000, third-party committee related expenses for issuance of new shares and warrants are ¥2,160,000, attorney fee are ¥1,080,000, registration fee are ¥2,050,000, assignment planned investigation cost are ¥1,350,000, and other expenses are ¥1,050,000. Mizuho Bank, Ltd. acted as payment handling institution.
Hirota Group Holdings Co Ltd, formerly 21Lady Co Ltd, is a Japan-based company primarily engaged in the sweets business. The Sweets Business segment is mainly engaged in the manufacture and sale of Western confectionery, mainly original cream puffs and ice cream puffs. The Company operates stores under the Hirota Western Confectionery brand in the Tokyo metropolitan area and the Kansai region, as well as directly managed stores. In addition to directly managed stores, the Company also operates a wholesale business centered on wholesale. The Company is also engaged in the manufacture and sale of Japanese sweets, cakes, and baked goods, the management of duty-free shops, and the hotel business.